Pardip Kadam News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Mukund Abhyankar, Group Chairman, Cosmos Bank
In 1997, the number of UCBs was above 2000 when I had travelled the whole of India as a member of the Madhavrao Committee of RBI. Later, this number got reduced due to mergers & delicensing of nearly 500 UCBs by RBI and today they are just 1500 plus.
Now after amendments in the Banking Regulation Act in June 1920 by the Central Cabinet, I am afraid during the next one or two years, UCBs will further reduce to a three digit number i.e. less than 1000.
I expect from the central budget that a level playing field must be given to the UCB sector as is being given to all commercial banks. RBI should also take immediate steps to implement favourable provisions under the revised B.R. Act. The UCB sector is emotionally closer to the “Common Man”. ....

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